Introduction

Local Economy – Economic Forecast – City Organization

Local Economy

The City and its surrounding metropolitan region have continued to experience growth in population and in economic diversity. Tourism and hospitality, professional and business services, direct international trade, entertainment including motion picture and television production, and wholesale trade and logistics all contribute significantly to local employment. Emerging industries are largely technology driven, and include biomedical, digital information technology, and environmental technology. More established components of local industry include apparel, computer and electronic components, transportation equipment, fabricated metal and food.

Economic Forecast

Below is a historical comparison and forecast that reflects overall period to period improvement for the region. While total employment continues to improve, job additions are expected to slow as labor markets remain extremely tight. Employment in Los Angeles County industries grew in construction, reflecting the increased building of new housing and commercial units. The health care sector has been the largest contributor to employment. In 2018, the unemployment rate will dip by 0.10 percent and total nonfarm employment will increase by 1.1 percent according to Beacon Economics. With the economy back at full employment levels, personal income will rise by 4.0 percent over the next year and taxable sales will increase by 3.4 percent. Home values continued to climb but sales have slowed primarily due to tight housing supply. Single family construction is expected to grow 12.6 percent and multi-family housing is estimated to decline by 11.4 percent based on trends through the end of the year.

Selected Economic Indicators: Los Angeles County Forecast

Source: Beacon Economics, December 2017

City Organization

The City operates under  mayor-council form of government. The Mayor supervises the administrative processes of the City and works with Council in matters relating to legislation, budget, and finance.The 15-member Council enacts ordinances, levies taxes, authorizes contracts and public improvements, adopts zoning and other land use contracts, and provides necessary resources for the budgetary departments and offices of the City. The City Attorney and City Controller are independently elected.

The City has 36 departments, bureaus, commissions, and offices for which operating funds are annually budgeted by the Council. The Department of Water and Power (DWP), Harbor Department, and Department of Airports are under the control of boards appointed by the mayor and confirmed by council.

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Public Works

Proprietary Departments

Retirement Systems